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Strategic Management: Introduction and Decision Making

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Strategic Management: Introduction and Decision Making

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Questions and Answers

Which level of strategy involves decisions about the organization as a whole?

Operational level strategy

Corporate level strategy (correct)

Business level strategy

Functional level strategy

Who is responsible for formulating Corporate level strategy?

Functional managers

Business level managers

Senior executives & other Corporate staff (correct)

Operational managers

What does the Business level strategy involve?

Decisions about corporate vision and mission

Decisions about the organization as a whole

Decisions about the strategic business unit (SBU) (correct)

Decisions about specific functional areas

What is the purpose of a corporate vision according to the text?

To state management's aspirations for the business Signup and view all the answers

Who encouraged the Operational Level Strategy according to the text?

Peter Drucker Signup and view all the answers

What are the four key elements of the strategic management process?

Developing Vision, Mission & Objectives Signup and view all the answers

Who formulates Corporate level strategy according to the text?

Chief Executive Officer, Board Of Directors, Senior executives & other Corporate staff Signup and view all the answers

What does the Business level strategy involve according to the text?

Competing successfully in particular markets, achieving advantage over competitors, identifying new opportunities, developing products or services, and meeting customer needs Signup and view all the answers

Who is responsible for developing annual objectives and short term strategies at the Functional (Operational) Level according to the text?

Managers in functional areas such as HR, Marketing, Finance, Production, Customer service, and R & D Signup and view all the answers

What is the purpose of a corporate vision according to the text?

To state management's aspirations for the business and provide a view of where the organization is going Signup and view all the answers

What are the hierarchial levels of strategy mentioned in the text?

Corporate level, Business level, Functional level Signup and view all the answers

Who sets objectives, analyses internal & external environment, and formulates strategies at the Corporate level?

Chief Executive Officer, Board Of Directors, Senior executives & other Corporate staff Signup and view all the answers

What are the four key elements of the strategic management process mentioned in the text?

Developing Vision, Mission & Objectives Signup and view all the answers

What does the Business level strategy involve according to the text?

Competing successfully in particular markets, achieving advantage over competitors, identifying or creating new opportunities, developing products or services, and meeting customer needs to achieve long-term profitability or market share growth Signup and view all the answers

Who is responsible for developing annual objectives & short term strategies at the Functional (Operational) Level?

Managers of different functional areas such as HR, Marketing, Finance, Production, Customer service & R & D Signup and view all the answers

Strategic Management: Introduction and Decision Making

Choose a study mode

Podcast

Questions and Answers

Which level of strategy involves decisions about the organization as a whole?

Who is responsible for formulating Corporate level strategy?

What does the Business level strategy involve?

What is the purpose of a corporate vision according to the text?

Who encouraged the Operational Level Strategy according to the text?

What are the four key elements of the strategic management process?

Who formulates Corporate level strategy according to the text?

What does the Business level strategy involve according to the text?

Who is responsible for developing annual objectives and short term strategies at the Functional (Operational) Level according to the text?

What is the purpose of a corporate vision according to the text?

What are the hierarchial levels of strategy mentioned in the text?

Who sets objectives, analyses internal & external environment, and formulates strategies at the Corporate level?

What are the four key elements of the strategic management process mentioned in the text?

What does the Business level strategy involve according to the text?

Who is responsible for developing annual objectives & short term strategies at the Functional (Operational) Level?

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